Gruyaert-Deceuninck: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
Gruyaert-Deceuninck
Largest movements
- Receivables within one year -€9,520
down €9,520 (-56.7%), from €16,780 to €7,260
- Tangible fixed assets -€8,666
down €8,666 (-23.0%), from €37,697 to €29,031
- Cash +€3,619
up €3,619 (+114%), from €3,187 to €6,806
mainly Receivables within one year (+€9,520) and Depreciation (+€8,666)
- Reserves -€18,390
down €18,390 (-11.3%), from €162,984 to €144,593
- Debts after one year -€6,790
down €6,790 (-41.7%), from €16,298 to €9,508
- Other debts +€4,522
up €4,522 (+6.9%), from €65,347 to €69,868
- Trade debts +€4,288
up €4,288 (+208%), from €2,065 to €6,353
- Financial income -€29,800
no longer reported in 2025 (was €29,800)
- Gross operating margin -€13,539
down €13,539, from €7,135 to -€6,404
- Depreciation +€3,032
up €3,032 (+53.8%), from €5,634 to €8,666
- Financial charges +€485
up €485 (+22.4%), from €2,162 to €2,647
- Other operating charges +€300
up €300 (+80.6%), from €372 to €673
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €276,784 | €262,217 | -€14,567 | -5.3% |
| Fixed assets | 21/28 | €256,817 | €248,151 | -€8,666 | -3.4% |
| Tangible fixed assets | 22/27 | €37,697 | €29,031 | -€8,666 | -23.0% |
| Furniture and vehicles | 24 | €37,697 | €29,031 | -€8,666 | -23.0% |
| Financial fixed assets | 28 | €219,120 | €219,120 | = | 0.0% |
| Current assets | 29/58 | €19,967 | €14,066 | -€5,901 | -29.6% |
| Amounts receivable within one year | 40/41 | €16,780 | €7,260 | -€9,520 | -56.7% |
| Trade receivables | 40 | €16,780 | €7,260 | -€9,520 | -56.7% |
| Cash at bank and in hand | 54/58 | €3,187 | €6,806 | +€3,619 | +114% |
| Total equity and liabilities | 10/49 | €276,784 | €262,217 | -€14,567 | -5.3% |
| Equity | 10/15 | €181,584 | €163,193 | -€18,390 | -10.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €162,984 | €144,593 | -€18,390 | -11.3% |
| Distributable reserves | 133 | €162,984 | €144,593 | -€18,390 | -11.3% |
| Amounts payable | 17/49 | €95,201 | €99,024 | +€3,823 | +4.0% |
| Amounts payable after more than one year | 17 | €16,298 | €9,508 | -€6,790 | -41.7% |
| Financial debts | 170/4 | €16,298 | €9,508 | -€6,790 | -41.7% |
| Amounts payable within one year | 42/48 | €77,979 | €88,415 | +€10,435 | +13.4% |
| Current portion of amounts payable after more than one year | 42 | €6,511 | €6,790 | +€279 | +4.3% |
| Trade debts | 44 | €2,065 | €6,353 | +€4,288 | +208% |
| Suppliers | 440/4 | €2,065 | €6,353 | +€4,288 | +208% |
| Taxes, remuneration and social security | 45 | €4,057 | €5,403 | +€1,346 | +33.2% |
| Taxes | 450/3 | €1,307 | €2,402 | +€1,095 | +83.8% |
| Remuneration and social security | 454/9 | €2,750 | €3,001 | +€251 | +9.1% |
| Other amounts payable | 47/48 | €65,347 | €69,868 | +€4,522 | +6.9% |
| Accrued charges and deferred income | 492/3 | €923 | €1,101 | +€178 | +19.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,634 | €8,666 | +€3,032 | +53.8% |
| Other operating charges | 640/8 | €372 | €673 | +€300 | +80.6% |
| Gross operating margin | 9900 | €7,135 | -€6,404 | -€13,539 | |
| Operating profit (loss) | 9901 | €1,128 | -€15,743 | -€16,871 | |
| Financial income | 75/76B | €29,800 | - | -€29,800 | |
| Recurring financial income | 75 | €29,800 | - | -€29,800 | |
| Financial charges | 65/66B | €2,162 | €2,647 | +€485 | +22.4% |
| Recurring financial charges | 65 | €2,162 | €2,647 | +€485 | +22.4% |
| Profit (loss) for the period before taxes | 9903 | €28,766 | -€18,390 | -€47,156 | |
| Profit (loss) for the period | 9904 | €28,766 | -€18,390 | -€47,156 | |
| Profit (loss) for the period to be appropriated | 9905 | €28,766 | -€18,390 | -€47,156 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.